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Bitcoin (BTC) Drops Again on Fears of Mt. Gox Distributions Selloff

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Bitcoin is under pressure again due to concerns about possible sales of the token by creditors of the bankrupt company Mount Gox stock market, a pullback that fuels doubts about the remaining momentum in the cryptocurrency rally that began last year.

The largest digital asset fell as much as 5.2% on Monday before paring some of the swings to trade at $55,800 at 8:30 a.m. in London, about $18,000 below its March record. Smaller tokens such as Ether and XRP also struggled.

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